DTEK accepts $193.53 million tendered notes for purchase for $80 million

By Marisa Wong

Los Angeles, March 24 – DTEK Holdings Ltd. announced the final results of its March 6 cash tender offer for the 7%/7½% senior secured PIK toggle notes due 2027 (ISIN: XS2342930521), originally issued by DTEK Finance plc with DTEK Energy BV as successor issuer.

DTEK Holdings has determined it will accept for purchase notes totaling $193,532,850 in principal amount. The sum of all purchase price payments is $80 million.

Pricing was determined under an unmodified Dutch auction. The minimum purchase price was $0 per $1,000 principal amount.

The company will also pay accrued interest.

The company previously increased the maximum acceptance amount to $80 million from $30 million and also extended the expiration deadline to 1 p.m. ET on March 23 from March 20.

Settlement will be on April 14.

After settlement, the principal amount of notes outstanding will be $1,506,874,012, of which $193,532,850 will be held by a guarantor, in addition to $79,508,689 previously repurchased, and will not be outstanding for the purposes of the indenture and will not have voting rights.

GLAS Specialist Services Ltd. (+44 20 3597 2940; attn.: DCM Liability Management - DTEK Tender; lm@glas.agency) is the tender agent.

DTEK is an energy company based in Kyiv, Ukraine.

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